*LEGAL DESCRIPTION

APR is annual percentage rate.

Rates as of September 23rd, 2022 @  10:00am PST and subject to change.

California Legal Description -

30-Yr Fixed (Loan Amounts Up to $715,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.125% (6.305% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $3,797.57 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed High Balance (Loan Amounts Up to $970,800) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.375% (6.558% APR) assumes a purchase loan in the amount of $822,375 and an estimated property value of $1,027,969 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $5,130.55 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.750% (5.910% APR) assumes a purchase loan in the amount of $1.5mm and an estimated property value of $1,875,000 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $8,753.59 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed (Loan Amounts Up to $715,000) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.375% (5.665% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $5,065.41 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed High Balance (Loan Amounts Up to $970,800) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.750% (6.048% APR) assumes a purchase loan in the amount of $822,375 and an estimated property value of $1,027,969 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $6,829.08 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM (Loan Amounts Up to $715,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 5/1/5. The interest rate of 5.625% (5.895% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The initial loan payment of $3,597.85 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

 

7/6 ARM Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 2/1/5. The interest rate of 5.875% (6.017% APR) assumes a purchase loan in the amount of $1.5mm and an estimated property value of $1,875,000 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The initial loan payment of $8,873.07 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.


 

Adjustment Rate:  When the ARM begins to adjust after the initial fixed rate period, the interest rate is calculated by adding the index to the margin and rounding to the nearest 1/8th of one percent (0.125%).

The adjusted rate is also known as the “fully indexed rate.”

When an ARM adjusts, the payment is based on the current unpaid balance of the loan, the new interest rate and remaining term of the loan.

ARM Caps:  The CAPS on an ARM determine how much a rate can adjust up or down at each change date over the life of the loan. Initial Cap / Periodic Cap  / Lifetime Cap

Initial CAP: The max amount a rate can adjust up or down on the first change date. 

Periodic CAP:  The max amount a rate can adjust up or down on each subsequent change date. 

Lifetime CAP:  The max amount a rate can adjust up or down over the life of a loan. 

The rate will never fall below the margin since it is calculated by adding the index to the margin, which remains constant.

SOFR Index:  The SOFR Index is a secured interbank overnight interest rate and reference rate, which is published in several currencies for contracts worldwide.

The 30-day average of SOFR is published by The Federal Reserve Bank of New York.  This index is used to calculate the adjustments after the fixed period of an ARM. Index: 2.305%, Margin: 3% for Conforming and High Balance and 2.75% for Jumbo

30-Yr Fixed High Balance Cash-Out (Loan Amounts and Cash-Out Up to $947,800) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.990% (7.132% APR) assumes a cash-out refinance loan in the amount of $822,375 and an estimated property value of $1,027,969 (80% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $5,465.76 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo Cash-Out (Loan Amounts Up to $2,000,000 and Cash-Out Up to $1,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.875% (5.994% APR) assumes a cash-out refinance loan in the amount of $1.5mm and an estimated property value of $2,142,857 (70% loan-to-value) for an existing, single-family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $8,873.07 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

These rates are not guaranteed and are subject to change. Rates shown are not available in all areas. This is not a credit decision or a commitment to lend. Your guaranteed rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Florida Legal Description -

30-Yr Fixed (Loan Amounts Up to $647,200) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.125% (6.383% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $3,797.57 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed High Balance (Loan Amounts Up to $710,700) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.375% (6.651% APR) assumes a purchase loan in the amount of $710,700 and an estimated property value of $888,375 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $4,433.84 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.750% (6.009% APR) assumes a purchase loan in the amount of $1.0mm and an estimated property value of $1,250,000 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $5,835.73 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed (Loan Amounts Up to $647,200) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.375% (5.791% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $5,065.41 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed High Balance (Loan Amounts Up to $710,700) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.750% (6.200% APR) assumes a purchase loan in the amount of $710,700 and an estimated property value of $888,375 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $5,901.72 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM (Loan Amounts Up to $647,200) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 5/1/5. The interest rate of 5.625% (5.972% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The initial loan payment of $3,597.85 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 2/1/5. The interest rate of 5.750% (6.015% APR) assumes a purchase loan in the amount of $1.0mm and an estimated property value of $1,250,000 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The initial loan payment of $5,835.73 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

Adjustment Rate:  When the ARM begins to adjust after the initial fixed rate period, the interest rate is calculated by adding the index to the margin and rounding to the nearest 1/8th of one percent (0.125%).

The adjusted rate is also known as the “fully indexed rate.”

When an ARM adjusts, the payment is based on the current unpaid balance of the loan, the new interest rate and remaining term of the loan.

ARM Caps:  The CAPS on an ARM determine how much a rate can adjust up or down at each change date over the life of the loan. Initial Cap / Periodic Cap  / Lifetime Cap

Initial CAP: The max amount a rate can adjust up or down on the first change date. 

Periodic CAP:  The max amount a rate can adjust up or down on each subsequent change date. 

Lifetime CAP:  The max amount a rate can adjust up or down over the life of a loan. 

The rate will never fall below the margin since it is calculated by adding the index to the margin, which remains constant.

SOFR Index:  The SOFR Index is a secured interbank overnight interest rate and reference rate, which is published in several currencies for contracts worldwide.

The 30-day average of SOFR is published by The Federal Reserve Bank of New York.  This index is used to calculate the adjustments after the fixed period of an ARM. Index: 2.305%, Margin: 3% for Conforming and High Balance and 2.75% for Jumbo.

30-Yr Fixed High Balance Cash-Out (Loan Amounts and Cash-Out Up to $710,700) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.990% (7.209% APR) assumes a cash-out refinance loan in the amount of $710,700 and an estimated property value of $888,375 (80% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $4,723.53 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo Cash-Out (Loan Amounts Up to $2,000,000 and Cash-Out Up to $1,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.875% (6.072% APR) assumes a cash-out refinance loan in the amount of $1.0mm and an estimated property value of $1,428,571 (70% loan-to-value) for an existing, single-family house located in Monroe County, FL, expected to be used as a primary residence. The loan payment of $5,915.38 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

These rates are not guaranteed and are subject to change. Rates shown are not available in all areas. This is not a credit decision or a commitment to lend. Your guaranteed rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Colorado Legal Description -

30-Yr Fixed (Loan Amounts Up to $715,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.125% (6.295% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Boulder County, CO, expected to be used as a primary residence. The loan payment of $3,797.57 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed High Balance (Loan Amounts Up to $862,500) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.375% (6.552% APR) assumes a purchase loan in the amount of $822,375 and an estimated property value of $1,027,969 (80% loan-to-value) for an existing, single-family house located in Eagle County, CO, expected to be used as a primary residence. The loan payment of $5,130.55 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.750% (5.938% APR) assumes a purchase loan in the amount of $1.0mm and an estimated property value of $1,250,000 (80% loan-to-value) for an existing, single-family house located in Boulder County, CO, expected to be used as a primary residence. The loan payment of $5,835.73 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed (Loan Amounts Up to $715,000) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.375% (5.649% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Boulder County, CO, expected to be used as a primary residence. The loan payment of $5,065.41 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed High Balance (Loan Amounts Up to $862,500) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.750% (6.039% APR) assumes a purchase loan in the amount of $822,375 and an estimated property value of $1,027,969 (80% loan-to-value) for an existing, single-family house located in Eagle County, CO, expected to be used as a primary residence. The loan payment of $6,829.08 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM (Loan Amounts Up to $715,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 5/1/5. The interest rate of 5.625% (5.886% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Boulder County, CO, expected to be used as a primary residence. The initial loan payment of $3,597.85 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 2/1/5. The interest rate of 5.875% (6.034% APR) assumes a purchase loan in the amount of $1.0mm and an estimated property value of $1,250,000 (80% loan-to-value) for an existing, single-family house located in Boulder County, CO, expected to be used as a primary residence. The initial loan payment of $5,915.38 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

Adjustment Rate:  When the ARM begins to adjust after the initial fixed rate period, the interest rate is calculated by adding the index to the margin and rounding to the nearest 1/8th of one percent (0.125%).

The adjusted rate is also known as the “fully indexed rate.”

When an ARM adjusts, the payment is based on the current unpaid balance of the loan, the new interest rate and remaining term of the loan.

ARM Caps:  The CAPS on an ARM determine how much a rate can adjust up or down at each change date over the life of the loan.

 

Initial Cap / Periodic Cap  / Lifetime Cap

Initial CAP: The max amount a rate can adjust up or down on the first change date. 

Periodic CAP:  The max amount a rate can adjust up or down on each subsequent change date. 

Lifetime CAP:  The max amount a rate can adjust up or down over the life of a loan. 

The rate will never fall below the margin since it is calculated by adding the index to the margin, which remains constant.

The 30-day average of SOFR is published by The Federal Reserve Bank of New York.  This index is used to calculate the adjustments after the fixed period of an ARM. Index: 2.305%, Margin: 3% for Conforming and High Balance and 2.75% for Jumbo

30-Yr Fixed High Balance Cash-Out (Loan Amounts and Cash-Out Up to $862,500) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.990% (7.138% APR) assumes a cash-out refinance loan in the amount of $822,375 and an estimated property value of $1,027,969 (80% loan-to-value) for an existing, single-family house located in Eagle County, CO, expected to be used as a primary residence. The loan payment of $5,465.76 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo Cash-Out (Loan Amounts Up to $2,000,000 and Cash-Out Up to $1,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.875% (6.023% APR) assumes a cash-out refinance loan in the amount of $1.0mm and an estimated property value of $1,428,571 (70% loan-to-value) for an existing, single-family house located in Boulder County, CO, expected to be used as a primary residence. The loan payment of $5,915.38 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

These rates are not guaranteed and are subject to change. Rates shown are not available in all areas. This is not a credit decision or a commitment to lend. Your guaranteed rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Texas Legal Description -

30-Yr Fixed (Loan Amounts Up to $715,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 6.125% (6.327% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Dallas County, TX, expected to be used as a primary residence. The loan payment of $3,797.57 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the entire loan term of 30 years. The interest rate of 5.750% (5.970% APR) assumes a purchase loan in the amount of $1.0mm and an estimated property value of $1,250,000 (80% loan-to-value) for an existing, single-family house located in Dallas County, TX, expected to be used as a primary residence. The loan payment of $5,835.73 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed (Loan Amounts Up to $715,000) has a fixed rate for the entire loan term of 15 years. The interest rate of 5.375% (5.701% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Dallas County, TX, expected to be used as a primary residence. The loan payment of $5,065.41 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM (Loan Amounts Up to $715,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 5/1/5. The interest rate of 5.625% (5.917% APR) assumes a purchase loan in the amount of $625,000 and an estimated property value of $781,250 (80% loan-to-value) for an existing, single-family house located in Dallas County, TX, expected to be used as a primary residence. The initial loan payment of $3,597.85 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

7/6 ARM Jumbo (Loan Amounts Up to $2,000,000) has a fixed rate for the first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 2/1/5. The interest rate of 5.875% (6.066% APR) assumes a purchase loan in the amount of $1.0mm and an estimated property value of $1,250,000 (80% loan-to-value) for an existing, single-family house located in Dallas County, TX, expected to be used as a primary residence. The initial loan payment of $5,915.38 is due each month for 84 months; the rate and payment will reset thereafter every 6 months. The rate lock period is 30 days and the assumed credit score is 760.

Adjustment Rate:  When the ARM begins to adjust after the initial fixed rate period, the interest rate is calculated by adding the index to the margin and rounding to the nearest 1/8th of one percent (0.125%).

 

The adjusted rate is also known as the “fully indexed rate.”

When an ARM adjusts, the payment is based on the current unpaid balance of the loan, the new interest rate and remaining term of the loan.

ARM Caps:  The CAPS on an ARM determine how much a rate can adjust up or down at each change date over the life of the loan.

 

Initial Cap / Periodic Cap  / Lifetime Cap

Initial CAP: The max amount a rate can adjust up or down on the first change date. 

Periodic CAP:  The max amount a rate can adjust up or down on each subsequent change date. 

Lifetime CAP:  The max amount a rate can adjust up or down over the life of a loan. 

The rate will never fall below the margin since it is calculated by adding the index to the margin, which remains constant.

The 30-day average of SOFR is published by The Federal Reserve Bank of New York.  This index is used to calculate the adjustments after the fixed period of an ARM. Index: 2.305%, Margin: 3% for Conforming and High Balance and 2.75% for Jumbo

These rates are not guaranteed and are subject to change. Rates shown are not available in all areas. This is not a credit decision or a commitment to lend. Your rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.